Small Business Wildfire Smoke Recovery Act
Description
This bill would expand eligibility for economic injury disaster loans to include small businesses and nonprofits affected by smoke.
Summary
What it does
This bill would expand the definition of a disaster to include smoke for the purpose of Small Business Administration disaster assistance. This change would allow small businesses, small agricultural cooperatives, and most private nonprofit organizations to qualify for economic injury disaster loans following wildfire smoke events.
Who is affected
This legislation affects small businesses, small agricultural cooperatives, and most private nonprofit organizations. These entities would become eligible for economic injury disaster loans in the event of wildfire smoke. The bill expands the definition of a disaster to include smoke, allowing these specific groups to seek financial recovery assistance.
Key provisions
- Expansion of disaster definition to include smoke. Amends the criteria for disaster assistance to explicitly include smoke as a qualifying event for federal aid.
- Economic injury disaster loan eligibility. Enables small businesses, small agricultural cooperatives, and most private nonprofit organizations to apply for economic injury disaster loans resulting from smoke-related impacts.
Fiscal impact
Not applicable: No CBO cost estimate available
Effective dates
Not applicable: Official Summary does not address effective dates
Relationship to existing law
This bill modifies the existing criteria for economic injury disaster loans by expanding the legal definition of a disaster to include smoke.
Stated purpose
The bill aims to expand eligibility for economic injury disaster loans by including smoke within the official definition of a disaster, thereby providing financial assistance to small businesses, small agricultural cooperatives, and most private nonprofit organizations affected by wildfire smoke.